Ivanhoe says revised report cuts 2026 copper output forecast for DRC mine

March 31 (Reuters) - Ivanhoe Mines IVN.TO said on Tuesday an updated independent study lowered near-term production estimates for the company's copper complex in the Democratic Republic of Congo.

The technical report, which underpins the Canadian miner's plan to scale up production at the Kamoa-Kakula complex, lowered the estimate for 2026 copper anode production to a range of 290,000 to 330,000 tonnes. For 2027, the outlook was also cut to between 380,000 and 420,000 tonnes.

Kamoa-Kakula, one of the world's highest-grade major copper projects, has become an important growth source in a market facing constrained supply and limited new project development.

The company is planning to scale up annual copper production at the complex to more than 500,000 tonnes from 2028.

The updated mineral reserve estimate stood at 466 million tonnes of ore grading 2.82% copper, containing 13.1 million tonnes of copper.

Copper, used widely in power and construction, is expected to benefit from rising demand from electric vehicles, grid investment and the rapid build out of data centers to support the surge in artificial intelligence usage.

Following recommendations the technical report, Ivanhoe has started working on a new feasibility study, which is expected to be completed in about 12 months, with drilling and mapping due to begin in the second quarter of 2026, the company said.